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I don't really want to spend a ton of money, and I'm not looking to set up a whole theater speaker system.

I currently have a composite 4-way switcher that all the game systems are plugged into and then plugged into the composite input on the TV.

I'm aware of HDMI upscalers/adapters for some of the game systems, but am uncertain as to their benefits for the money.

Ultimately, I want to simplify the system and achieve as best a picture quality as each device is capable of outputting.

Any advice would be appreciated!

If you aren't planning on getting any new equipment (other than the hd cable box), then get a component switch and get component cables for the PS2. Connect the Xbox 360, Wii and PS2 to the component switch and connect that into the dedicated component input. Then connect everything else into the composite switch and connect that to the composite input. When you get the hd cable box, connect that to the tv via HDMI cables (get them at Monoprice ). Personally, I would also get a Blu-Ray player and connect that via HDMI also. The BD unit will upscale dvd's to near-highdef and make them look a whole lot better than playing them through composite. You can still keep the DVD/VHS unit to play tapes.